On Air Now

Tune in to Listen

93.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
59° Feels Like: 59°
Wind: SSW 3 mph Past 24 hrs - Precip: 0.17”
Current Radar for Zip

Tonight

Isolated Thunderstorms 52°

Tomorrow

PM Thunderstorms 77°

Thurs Night

Scattered Thunderstorms 60°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Knight Capital to sell itself to Getco Holding: sources

Knight Capital traders work at the company's kiosk on the floor of the New York Stock Exchange, August 6, 2012. REUTERS/Brendan McDermid
Knight Capital traders work at the company's kiosk on the floor of the New York Stock Exchange, August 6, 2012. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Knight Capital Group agreed to sell itself to Getco Holding Company LLC, beating rival high-speed trading firm Virtu Financial LLC, according to two people close to the negotiations.

Though Virtu had offered an all-cash deal, Getco and its private equity firm General Atlantic increased its offer to above $3.60 a share in cash and stock in the combined company, one source said. Under Getco's plan, Knight Chief Executive Thomas Joyce would give up his role.

A spokeswoman at Knight was not immediately available for comment.

(Reporting by Jed Horowitz; Editing by Jan Paschal)

(This Dec. 18 story was corrected to remove Exclusive tag from headline and slug. Dow Jones reported the news earlier)

Comments